Can Cloudflare (NET) Agent Web Push deepen your AI moat across multicloud security and development tools?

• In mid-April 2026, Cloudflare, Inc. introduced new AI-focused products such as Cloudflare Mesh and expanded its Agent Cloud platform, while announcing partnerships with Wiz (now part of Google Cloud), Virtru, and GoDaddy to protect AI applications, data, and web content across multicloud environments.
• These launches and collaborations place Cloudflare deeper into the heart of the emerging “agent web,” connecting its global network to AI security, governance, and developer tools across multiple layers of the stack.
• Next, we consider how Cloudflare’s launch of Cloudflare Mesh for AI agents could impact existing investment stories around AI infrastructure.

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Cloudflare investment story summary

To own Cloudflare today, you need to believe that Cloudflare can transform its global network and developer platform into the core layer of security, networking, and applications for the AI ​​era, and ultimately drive profitability. The recent releases of Mesh and Agent Cloud strengthen the AI ​​infrastructure story, but in and of themselves do not change the short-term focus on converting enterprise demand into profitable growth or the key risk that high spending and margin pressures could persist for longer than investors tolerate.

Of all the recent news, Cloudflare Mesh seems most relevant to the current paper. Mesh directly supports the idea that Cloudflare can become the connective tissue for AI workloads by providing a private networking fabric for AI agents across multi-cloud environments. While the adoption of these tools at scale by companies could strengthen the push for larger, multi-product deals, the question remains how quickly these AI investments will lead to clearer monetization and improved margins.

But for this AI turnaround, investors should also be aware of the risk that Cloudflare’s new agent and Act 4 efforts may struggle to find a durable and profitable business model…

Read the full story on Cloudflare (it’s free!)

Cloudflare’s story projects $4.6 billion in revenue and $44.2 million in revenue by 2029. This would require annualized revenue growth of 28.2% and an increase in revenue of $146.5 million from the current -$102.3 million.

We reveal how Cloudflare’s projections yield a fair value of $232.43, 16% above the current price.

explore other perspectives

Some of the most optimistic analysts had already assumed that Cloudflare would reach approximately USD 4.6 billion by 2028, with revenue growth of approximately 31.5% per year and positive returns, relative to fundamental concerns about margins and AI execution risk. By comparison, the announcements of these new AI agents could either strengthen that bullish view or reveal just how ambitious it really is, serving as a reminder that rational investors can look at the same company and come to very different conclusions.

Check out the other 20 fair value estimates on Cloudflare – Find out why the stock is worth 16% more than its current price.

reach one’s own conclusion

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This article by Simply Wall St is general in nature. We provide commentary using only unbiased methodologies, based on historical data and analyst forecasts, and articles are not intended to be financial advice. This is not a recommendation to buy or sell any stock, and does not take into account your objectives or financial situation. We aim to provide long-term, focused analysis based on fundamental data. Note that our analysis may not factor in the latest announcements or qualitative material from price-sensitive companies. Simply Wall St has no position in any stocks mentioned.

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